Grainger Increases Quarterly Dividend By 10% From $1.86 To $2.05 Per Share; Refreshes Share Repurchase Authorization Of Up To 5M Shares Of The Co's Outstanding Common Stock, Replacing The Company's Existing Repurchase Authorization
Portfolio Pulse from Benzinga Newsdesk
W.W. Grainger, Inc. (NYSE:GWW) has increased its quarterly dividend by 10% to $2.05 per share and refreshed its share repurchase authorization to up to 5 million shares, replacing the existing authorization. The dividend is payable on June 1, 2024, to shareholders of record as of May 13, 2024. This marks the company's 53rd consecutive year of increased dividends, demonstrating its commitment to shareholder returns while continuing to invest in the business.
April 24, 2024 | 2:08 pm
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Grainger has announced a 10% increase in its quarterly dividend to $2.05 per share and a new share repurchase authorization for up to 5 million shares, signaling strong financial health and commitment to shareholder returns.
The increase in dividend and the refreshed share repurchase authorization indicate Grainger's strong financial position and its confidence in future growth. Such actions typically signal to the market a positive outlook by the company, which can lead to increased investor confidence and potentially a rise in stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100